Some corners of the industry are claiming that news of a recovery in the market have come along much to soon. Recent reports have been saying that house prices have been rising for four months straight and banks are starting to ok more mortgages. But another report have arrived, which is suggesting that all that is over optimism. These numbers are claiming that prices are going to fall much more in the coming months.

Lloyds TSBs new mortgage plan, is being dismissed as not being able to simulate the economy as once was first thought. This new mortgage will allow the savings of a family member to count towards the deposit of the loan. The problem is if the loan doesnt fall from the 95% of the homes value to 90% in three years Lloyds will hold the relatives money until that 90% is reached.

‘Experts’ are claiming it is much to soon to start talking about the sectors recovery and we could see yet more falling from house prices in the coming year. So the question really has to be asked- who do we believe here? One minute the market is recovering and prices are going up, while the next we are being told that in reality the numbers are going further down. I think the best thing to do is take all this ‘expert’ advice with a pinch of salt. Listen out for whatever news is coming out, but dont take it as gospel seeing as no one is in agreement about everything. Were still in a recession, where jobs arent safe and prices are high, so were keeping the purse string tightly wrapped up. The logical thing is to see where the industry goes from here.

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